Inequality Falls Because of Financial Crisis

[Toro]

After an increase in inequality not seen in at least 100 years ...

Economist's View: The Trickle-Up Economy

...inequality is now falling.

The New York Times > Log In

 

[CrusaderFrank]

Obama will make everyone equal no matter how much it damages the economy

 

[Care4all]

so, between 2007 and 2008, 500,000 people no longer had assets worth more than a million? so their home values dropped? Or are homes not considered "investable" assets?

 

[Diuretic]

Damnit Toro. If you insist on posting objective data I shall be forced, forced I tell you, to complain vehemently to the mods. This has simply go to stop. It's raising the tone of the discussions and we can't allow that!

Consider yourself warned.

Thank you.

 

[Ravi]

Falling stock dividends...well, that makes sense. My investment accounts lost a lot of money last year and are only now slowly creeping up each month. Doubtful if they will ever fully recover.

I don't think it is only the super rich that are poorer and I can't say I feel any more sympathy for them than I do for everyone else.

 

[Toro]

Obama will make everyone equal no matter how much it damages the economy

Are you saying that Obama is deliberately engineering an economic crisis to enforce equality?

 

[CrusaderFrank]

Obama will make everyone equal no matter how much it damages the economy

Are you saying that Obama is deliberately engineering an economic crisis to enforce equality?

Obama and the Dems are intentionally inflicting more damage to the US economy than anything short of a full scale Soviet nuclear strike.

The Dollar is getting crushed, the deficits are insanely unsustainable and after bankrupting Fannie, Freddie and destroying the US housing markets Dems have their sites set on US Health Care while ignoring the peril that Medicare Medicaid and Social Security face.

Yes, it's intentional

 

[Toro]

Obama will make everyone equal no matter how much it damages the economy

Are you saying that Obama is deliberately engineering an economic crisis to enforce equality?

Obama and the Dems are intentionally inflicting more damage to the US economy than anything short of a full scale Soviet nuclear strike.

The Dollar is getting crushed, the deficits are insanely unsustainable and after bankrupting Fannie, Freddie and destroying the US housing markets Dems have their sites set on US Health Care while ignoring the peril that Medicare Medicaid and Social Security face.

Yes, it's intentional

Have you met Terral?

http://www.usmessageboard.com/conspiracy-theories/73081-terrals-conspiracies-compilation-thread.html

Sounds like you and him would get along well.

 

[CrusaderFrank]

Are you saying that Obama is deliberately engineering an economic crisis to enforce equality?

Obama and the Dems are intentionally inflicting more damage to the US economy than anything short of a full scale Soviet nuclear strike.

The Dollar is getting crushed, the deficits are insanely unsustainable and after bankrupting Fannie, Freddie and destroying the US housing markets Dems have their sites set on US Health Care while ignoring the peril that Medicare Medicaid and Social Security face.

Yes, it's intentional

Have you met Terral?

http://www.usmessageboard.com/conspiracy-theories/73081-terrals-conspiracies-compilation-thread.html

Sounds like you and him would get along well.

Have you met reality or are you all wee weed up?

 

[Toro]

I'm not the one with the vast conspiracy theories.

 

[mascale]

1) The NYT likely wants to know who in fact is showing up at the Town Hall Meetings. 2) why did they stop subscribing, 3) and at any rate: What did they do with all the Social Security money that they are supposed to be repaying?

"Crow, James Crow: Shaken, Not Stirred!"
(The economic miracle, generally called, "The Atomized Terrorists Of 9/11," may have finally settled into the earth after all(?) Surely the money must be somewhere--Where anyone now hast what is thine?!"

 

[editec]

This economy is hurting Americans across multiple classes of incomes, without doubt.

Except for those who have liquidity, and who can therefore continue to buy up distressed assets.

They're actually gaining greater wealth even if the dollar amounts suggest otherwise.

And here's why...assume that shareprices in viable company have gone down.

When you buy into that company fpr fewer dollars, you gain a greater share of that company.

And it's the owning the greater share of assets which is an increase real wealth even if the dollar amounts the market puts on those assets is less.

This is basically how the superwealthy periodically fleece the affluent working classes.

Dry up liquidity thus putting downward pressure on the prices of real assets, and while the prices are low, increase your share of ownership.

To the superwealthy, income is unimportant, because NET OWNERSHIP of valuable assets is the real key to their great wealth.

 

[Oddball]

Obama will make everyone equal no matter how much it damages the economy

Are you saying that Obama is deliberately engineering an economic crisis to enforce equality?

Sure....Though enforcing equality is only a side effect in the relentless quest for more centralized power.

Create the problem, blame everyone else for it (the dems' favorites are the evil rich and corporate strawmen), then show up riding on the white charger to "save the day".

Republicans merely have different scapegoats, but still play the same game.

 

[BaronVonBigmeat]

To the superwealthy, income is unimportant, because NET OWNERSHIP of valuable assets is the real key to their great wealth.

Yes! By god you've got it.

Inflation benefits the rich. (If the average liberal/progressive ever figures this out, there will be a revolution) During credit bubbles (read: monetary expansion), asset prices are bid up, while ordinary people's wages and savings struggle to keep up with inflation. So during the boom/mania phase, we see ordinary people struggling to tread water, while the paper aristocracy cleans up.

Conversely, during a credit contraction, it is primarily the paper aristocracy that loses. Sure, the ordinary guy who loses his job is hurt, but on the whole, prices stabilize or even deflate (see: housing bargains right now). He is also now making money on his savings, as the interest rate is above the inflation rate.

 

[eagleseven]

For Obama and Friends...